Sixth Street Specialty Lending, Inc. (NYSE:TSLX) Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 251,182 shares of the financial services provider’s stock after acquiring an additional 1,273 shares during the period. Confluence Investment Management LLC owned 0.27% of Sixth Street Specialty Lending worth $5,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Sixth Street Specialty Lending in the 2nd quarter valued at $70,000. Quarry LP raised its stake in Sixth Street Specialty Lending by 378.3% in the third quarter. Quarry LP now owns 4,094 shares of the financial services provider’s stock valued at $84,000 after buying an additional 3,238 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Sixth Street Specialty Lending during the third quarter worth approximately $86,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Sixth Street Specialty Lending during the third quarter worth approximately $196,000. Finally, ProShare Advisors LLC boosted its stake in Sixth Street Specialty Lending by 14.5% in the second quarter. ProShare Advisors LLC now owns 14,986 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 1,898 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLX. Keefe, Bruyette & Woods reduced their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Stock Performance

Shares of NYSE TSLX opened at $21.25 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market cap of $1.98 billion, a PE ratio of 10.32 and a beta of 1.06. The company has a 50-day simple moving average of $20.85 and a 200-day simple moving average of $20.92. Sixth Street Specialty Lending, Inc. has a 12 month low of $19.50 and a 12 month high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last released its earnings results on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $119.22 million for the quarter, compared to the consensus estimate of $119.85 million. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities analysts anticipate that Sixth Street Specialty Lending, Inc. will post 2.31 earnings per share for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.05 per share. The ex-dividend date was Friday, November 29th. This represents a yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.